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August 25, 2016

$500,000 in CHET scholarships available through Oct. 5

Connecticut high school seniors and freshmen can apply for $500,000 worth of 2016 CHET Advance scholarships through Oct. 5, State Treasurer Denise L. Nappier said.

This is the fourth year of the scholarship program for Connecticut’s state-sponsored 529 college savings plan, formally known as the Connecticut Higher Education Trust, Nappier said.

The recent class of 2016 college graduates averaged $37,000 per student in college debt on graduation day, said Nappier, who is a CHET trustee.

“For our students who are in high school, the CHET Advance Scholarship can help defray college costs that are right around the corner,” Nappier said. “Every dollar saved with CHET, or provided by a CHET Advance Scholarship, is a dollar a parent or student won’t ever have to take out in loans.”

No state or CHET account participant funds are used to pay for the scholarships. Instead, the 529 plan’s administrators and planners contribute the money annually, according to their contracts with Nappier’s office.

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